Form 4: Delta Air Lines CFO Daniel C. Janki Reports Stock Transactions Related to Vesting of Restricted Stock Awards
SEC Form 4 Filing
Delta Air Lines' EVP and Chief Financial Officer, Daniel C. Janki, reported the withholding of shares for tax liabilities related to the vesting of restricted stock awards.
Summary
- Daniel C. Janki, EVP & Chief Financial Officer of Delta Air Lines, reported transactions related to the vesting of restricted stock awards.
- The transactions involved the withholding of shares to cover tax liabilities associated with the vesting of restricted stock granted in 2022, 2023, and 2024.
- A total of 14,292 shares were withheld at a price of $67.27 per share on January 31, 2025.
- The shares were withheld to cover tax obligations arising from the vesting of stock awards on February 1, 2025, which fell on a weekend, so the previous business day's closing price was used.
- After these transactions, Mr. Janki beneficially owns 172,880 shares of Delta Air Lines common stock.
Sentiment
Score: 7
Explanation: The document is a routine SEC filing related to executive compensation. It does not indicate any positive or negative news, but is a normal part of business operations.
Industry Context
This is a routine filing related to executive compensation and is common practice for publicly traded companies. It reflects the standard process of handling tax obligations when restricted stock awards vest.
Comparison to Industry Standards
- The practice of withholding shares to cover tax liabilities upon vesting of restricted stock is standard across publicly traded companies.
- Many companies use similar long-term incentive programs for executive compensation, and the reporting of these transactions via SEC Form 4 is a common regulatory requirement.
- Companies like United Airlines (UAL) and American Airlines (AAL) also have similar executive compensation structures and reporting requirements.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in the company's financial position.
Key Dates
| Date | Description |
|---|---|
| 02/09/2022 | Date of restricted stock award grant under Delta's 2022 long-term incentive program. |
| 04/19/2023 | Date of restricted stock award grant under Delta's 2023 long-term incentive program. |
| 02/07/2024 | Date of restricted stock award grant under Delta's 2024 long-term incentive program. |
| 01/31/2025 | Date of stock transactions (withholding of shares for tax liabilities). |
| 02/01/2025 | Vesting date of the restricted stock awards (fell on a weekend). |
| 02/03/2025 | Date of filing of the SEC Form 4. |
Keywords
Delta Air Lines, Daniel C. Janki, stock transactions, restricted stock, tax withholding, executive compensation, SEC Form 4
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.